LOS ANGELES, CA (July 2, 2019) - Union Bank has been named the Best Regional Bank for the West region in Kiplinger’s Personal Finance’s third annual rankings of “The Best Banks for You” in the U.S. To identify top picks, the magazine selected a winner among national and internet banks, credit unions, and the best bank in each of three regions, as well as top institutions in a number of personalized categories.
"We are very pleased to be recognized as the leading bank in the West by Kiplinger's," said Tim Wennes, West Coast President and Head of the Regional Bank for Union Bank. "Client needs and expectations are changing, and we are focused on serving those needs through digital services, our local expertise, and our global capabilities."
In creating its Best Banks of 2019 list, Kiplinger’s studied data for 44 national and regional banks, 14 credit unions, and 15 online banks.
"We've crunched the data on interest rates, fees, minimum-balance requirements, free perks, and other features for a variety of deposit accounts to see which banks rise to the top," said Mark Solheim, editor, Kiplinger's.
Among the other criteria Kiplinger’s considered were monthly maintenance fees and ease of waiving the fees; ATM benefits (such as waived or refunded out-of-network surcharges); availability of free or discounted perks, such as personal and cashier’s checks, money orders, identity-theft protection, overdraft protection, and wire transfers; and certain miscellaneous fees, such as for external transfers.
Notably, Union Bank’s new Bank Freely™ checking account and it’s PurePoint® Financial business were highlighted as competitive factors in receiving this distinction.
"Bank Freely was created in response to feedback we heard from consumers, who told us they don't like fees or sometimes find them confusing,"said Pierre P. Habis, Head of Consumer Banking for Union Bank and President of PurePoint Financial. "PurePoint Financial, our innovative hybrid digital bank , demonstrates how we’ve reimagined the client experience from start to finish. We have up-leveled the experience online, via phone and at our financial centers coupled with our exceptional people who put our clients first every day."
The complete rankings are now available online at Kiplinger.com along with in-depth profiles of the honored institutions. The ranking will be available in print in the August 2019 issue of the magazine, on newsstands July 16.
About PurePoint Financial
PurePoint Financial is a division of MUFG Union Bank, N.A., a proud member of the Mitsubishi UFJ Financial Group (MUFG), one of the world’s leading financial groups. As the next evolution in the financial services industry, PurePoint® Financial is the modern way to save − online, over the phone or in person. PurePoint offers market-leading CD and savings rates, no monthly fees and all the flexibility and convenience of online banking with 24/7 access from your computer, tablet or mobile devices. PurePoint also offers Financial Centers at select locations staffed by knowledgeable team members who are committed to delivering exceptional experience.
About Union Bank
Union Bank is a full-service bank with a rich history of investing in our clients, communities, and colleagues across the West Coast for more than 150 years. With approximately 350 branches in California, Oregon and Washington, Union Bank serves the needs of individuals and businesses by focusing on the details that matter to each of our clients first and then providing the financial expertise and services to help them reach their financial goals. As a member of the Mitsubishi UFJ Financial Group (MUFG), one of the world’s largest financial institutions, Union Bank holds our clients’ best interests to heart and remains committed to investing in their success and to empowering their exceptional within.
About MUFG Union Bank, N.A.
As of March 31, 2019, MUFG Union Bank, N.A. operated 351 branches, consisting primarily of retail banking branches in the West Coast states, along with commercial branches in Texas, Illinois, New York, and Georgia, as well as 22 PurePoint ® Financial Centers. We provide a wide spectrum of corporate, commercial, and retail banking and wealth management solutions to meet the needs of customers. We also offer an extensive portfolio of value-added solutions for customers, including investment banking, personal and corporate trust, global custody, transaction banking, capital markets, and other services. With assets of $133.4 billion, as of March 31, 2019, MUFG Union Bank has strong capital reserves, credit ratings and capital ratios relative to peer banks. MUFG Union Bank is a proud member of the Mitsubishi UFJ Financial Group (NYSE: MUFG), one of the world’s largest financial organizations with total assets of approximately ¥311.1 trillion (JPY) or $2.8 trillion (USD)*, as of March 31, 2019. The corporate headquarters (principal executive office) for MUFG Americas Holdings Corporation, which is the financial holding company, and MUFG Union Bank, is in New York City. The main banking office of MUFG Union Bank is in San Francisco, California.
* Exchange rate of 1 USD=¥110.9 (JPY) as of March 29, 2019